After Elon Musk sent notice the $44 billion deal was off, Twitter said it would enforce it in court
Twitter will sue in Delaware to enforce the $44 billion merger agreement, the social media company’s board chairman said on Friday, after Tesla and SpaceX founder Elon Musk announced he was backing out, citing misleading information about the number of bot and spam accounts on the platform.
“The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement,” tweeted Bret Taylor, the current chairman of the Twitter board. “We are confident we will prevail in the Delaware Court of Chancery.”
After initially opposing Musk’s buyout offer, in late April Twitter agreed on the sale at $54.20 per share. Musk put the deal on hold three weeks later, however, claiming that Twitter was stonewalling his requests for information about inauthentic…
